8571475
Nixon Domestic Policy
- 'New Frontier' Economic Plan
- Appealed to 'Silent Majority' (i.e.
White/Working class) -- advocated
self-help and attacked Great Society:
- Shrunk OEO -- Closed 59
Job Corps centres -- cut
fed. funding
housing/youth
programmes
- Shrunk OEO -- Closed 59
Job Corps centres -- cut
fed. funding
housing/youth
programmes
- Proposed negative
income tax
- 80% Americans
believed those on
benefits could get job if
wanted
- Renewed Food Stamps =
'Family Assistance
Programme' (FAP) -- could
get cash for training/job
hunting
- Criticised as free money (by
conservatives) and threat
to minimum wage (by
unions)
- Fails pass
Congress
1972
- Criticised as free money (by
conservatives) and threat
to minimum wage (by
unions)
- Vetoed Child
Development
Act 1971 = too
$$$
- Despite plan, welfare
spending rose (sympathetic
to poor) e.g. Supplementary
Security Income (SSI) for
elderly/disabled
- 1971/1974 proposed
health insurance
reform
- Appealed to 'Silent Majority' (i.e.
White/Working class) -- advocated
self-help and attacked Great Society:
- Bureaucracy
- Hypocritically more
bureaucratic in
offices/acts created
- 1970: EPA //
Comprehensive Drug
Abuse Prevention and
Control Act
- 1972: Noise Control Act
- 1973: DEA
- 1974: Safe Drinking Act
- Hypocritically more
bureaucratic in
offices/acts created
- Nixonomics
- Unemployment 1968
3.3% - 1970 6.6%
- Inflation 1968 4.7% -
1970 12.1%
- 1st approach
- monetary restraint
- monetary restraint
- 2nd approach
- hold fed. spending
under $200B =
strikes = 'stagflation'
- hold fed. spending
under $200B =
strikes = 'stagflation'
- 3rd approach
- 1971 'New Economic Policy' =
wage/price freeze - tax cuts -
10% import tax - end 1944
Bretton-Woods Accords
- Led to 1973 OPEC
embargo = 387% increase price
- Led to 1973 OPEC
embargo = 387% increase price
- 1971 'New Economic Policy' =
wage/price freeze - tax cuts -
10% import tax - end 1944
Bretton-Woods Accords
- Unemployment 1968
3.3% - 1970 6.6%
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